05 February 2024

Australian government to invest $63.2m in Liberty Steel’s Whyalla plant

The Australian Government has announcement that it will inject significant funding into the Australian steel industry, including a $63.2 million grant to LPMA Whyalla, LIBERTY’s ‘environmentally sustainable steel development’ in South Australia.

The Australian Government grant, announced by Chris Bowen, minister for climate change and energy, will support LPMA Whyalla’s installation of low carbon Electric Arc Furnace (EAF) technology, and the integrated development of LIBERTY’s magnetite ore, with the goal to transform Whyalla into an international green iron and steel export hub.

The South Australian government has committed to build the world’s largest hydrogen electrolyser at Whyalla as part of its long-term plans to ensure the continued production of Australian steel both for domestic use and to be exported to customers around the world. LPMA Whyalla in September closed its coke ovens in preparation for the shift to EAF technology.

“This grant signifies that our transition to producing greener steel is wholeheartedly supported by a government that understands the importance of retaining an industry that employs Australian workers and underpins Australian communities and businesses.”

Sanjeev Gupta, GFG Alliance executive chairman

GFG Alliance executive chairman, Sanjeev Gupta said: “This grant signifies that our transition to producing greener steel is wholeheartedly supported by a government that understands the importance of retaining an industry that employs Australian workers and underpins Australian communities and businesses. Whyalla in the not-too-distant future will be the global epicentre for manufacturing low carbon iron and steel. It has all the contributing elements required to dictate and dominate the green steel industry – location, natural resources, future ability to generate abundant renewable energy, a robust, engaged workforce, deep water port, supportive government and invested owners.”

*Source: https://www.steeltimesint.com/news/australian-government-to-invest-63-2m-in-liberty-steels-whyalla-plant